Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

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Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

ALROSA redeemed 3 ECP issues worth $232 million in November

19 november 2009

In November diamond mining company ALROSA managed to repay three issues of euro commercial papers (ECP) for a total of $232M, Interfax agency was reported at the company.
Particularly this Thursday ALROSA repaid ECP worth $100M, the issuer being Luxembourg-based Alrosa Finance SA.
Placement of ECP issues was conducted within the scope of ECP program amounting to $700M.
ALROSA used to raise funds extensively in order to finance underground mines construction program (three underground mines worth $1 billion each). By the end of July ALROSA’s net debt reached $5 billion. Following the results of first nine months of 2009 this figure was reduced to 120 billion rubles owing to resumption of diamond sales at the market.
Previously the company’s President Fyodor Andreyev stated that ALROSA intended to reduce its net liabilities to $3.2 billion by the end of 2009. In his opinion, subject to market environment ALROSA might issue bonds worth 10 – 30 billion rubles, probably on security of state guarantees, in December 2009 or the beginning of 2010. In the second quarter of 2010, should the company’s profit reach 9-10 billion rubles, then one can project ECP placement for a total of $0.5-1 billion.